SP500 Index

Index : SP500 Index

Current Price : 2399

Status : Watching for further short Squeeze

The SP500 ‘short squeeze’ played out perfectly and still has some room to continue higher. Price is now at highs which may drag in further sellers to be fuel for continuation higher as buy stops are triggered. As the sellers are still well outweighing the buyers, some pain is still to come as the realization hits that price is heading up. The price structure looks good and we now expect to see another leg up build.

 

ORIGINAL ALERT 12/5/17

Index : SP500 Index

Current Price : 2389.25

Status : Watching for further short Squeeze

The SP500 Index has been pushing higher putting pressure on the sellers. With the number of sellers still well outweighing the buyers, we see the potential for a further short squeeze as the sellers chase the market up to exit. The price action is currently contracting off the highs around 2400 and holding above 2377 support. If price action builds the higher low then we expect the squeeze to on. If price pushes lower below 2377, there will be respite for a while for the sellers as we see price make a deeper pullback.